Chapter 570 Company Reform: Qingyao Media Upgraded to Qingyao Group
Time always passes quietly. Although there are often news hotspots about Qingyao Media or Su Yang on the Internet, for the parties involved, this has long been commonplace. After all, whether it is Qingyao Media, Su Yang, or the works of their artists, they are all in the entertainment industry, and maintaining hot topics is also a must.
Qingyao Media's headquarters is seeing a growing number of people, while the Yanjing headquarters is seeing a shrinking number of people. Some people, unable to work at headquarters for various reasons, have reluctantly left Qingyao Media. Qingyao Media is making no compromises on this matter. Regardless of your talent, Qingyao Media will not reserve a separate workstation for you in Yanjing.
However, few people are willing to leave Qingyao Media. Even some employees with Yanjing household registration have chosen to move to headquarters. They believe that working and living at headquarters are more comfortable than in Yanjing. As for social welfare, the benefits at headquarters are likely to be better.
The choice is up to the employees. Although Qingyao Media is more considerate of its employees, it must also stand from the company's perspective.
Tang Qing also arrived at the headquarters conference room. She had already arrived in Zhucheng, and a vice president was in charge of the work in Yanjing.
Today's meeting was of a very high standard. In addition to Tang Qing, Su Yang and Qin Shuyao also participated in the meeting via video.
"Mr. Tang, Mr. Su, Mr. Qin, we have already sorted out all of our subsidiaries. We have a detailed plan for upgrading our company to a group."
A middle-aged man opened his computer, shared the file with everyone, and then said seriously.
"The specific plans and suggestions regarding the upgrade of Qingyao Media and Culture Company to Qingyao Group are as follows."
"First, the company's name has been upgraded from Qingyao Culture Media to Qingyao Group, and its positioning has been upgraded from a simple cultural and entertainment company to a comprehensive group centered on the cultural industry. Its business scope includes cultural industries, the toy industry, the service industry, the tourism industry, the catering industry, etc..."
"Second, improve the company's rules and regulations, increase the independence of subsidiaries, and improve the head office's supervisory system..."
In the conference room, everyone listened attentively to the plan. A large number of people had come today. The three major shareholders, the heads of various subsidiaries, any one of them was a well-known figure in Qingyao Media. Today's restructuring had a significant impact on all of them.
The company's restructuring, upgrading from a company to a group, was a decision made after much deliberation between Su Yang, Tang Qing, and Qin Shuyao. As the company grew larger, Tang Qing's management became increasingly strained. Although Tang Qing was constantly learning, Qingyao Media was expanding too rapidly, and such rapid expansion was bound to cause problems.
Although these issues are not serious at the moment, they must be resolved for the better development of Qingyao Media in the future.
Therefore, before the headquarters relocation, Tang Qing asked a professional team to take charge of this matter. Now they have finally come up with a specific implementation plan according to Su Yang and Tang Qing's requirements.
The overall strategy for this upgrade was simple: expand the scope of operations while delegating some authority to individual subsidiaries. After the upgrade, headquarters' primary role would be to oversee the operations of each subsidiary, control overall policies, and serve as a connector between them.
This way, Tang Qing will have fewer responsibilities and a much easier time. Furthermore, the operations of each subsidiary will be more independent and complete. Most importantly, each subsidiary can be independently listed in the future. This is the most crucial point.
The head office is not listed, but that doesn’t mean the subsidiary cannot be listed.
There are countless examples of large groups not going public but their subsidiaries going public. Qingyao Group is unlikely to go public in the short term. However, after upgrading to Qingyao Group, each of its subsidiaries will be listed in Huaxia at the appropriate time. Su Yang and Tang Qing are both considering this.
Going public can further enhance influence, as the market capitalization of a company after going public becomes a national reservoir, allowing for the accumulation of idle funds. This is a major financial issue, and Hua Xia is actively promoting the listing of outstanding national enterprises on the Hua Xia A-share market. Only in this way can the A-share market gradually rebound.
Qingyao Media is now a giant, a rapidly growing one. If its subsidiaries go public one after another in the future, the market capitalization they can support could be very large, and this is what matters most to Huaxia.
"The proposed subsidiaries after the split are as follows: Qingyao Media, Qingyao Music, Qingyao Entertainment, Qingyao Digital, Qingyao Literature, Qingyao Games, Qingyao Video, Qingyao Toys, Qingyao Commerce, and an independent subsidiary..."
There are many subsidiaries, and after upgrading to a group, there will be even more subsidiaries, and the business needs to be reorganized and split. Just one cultural industry needs to be split into several companies.
In the future, Qingyao Media, as a subsidiary of the group, will only be responsible for filming films, TV series, and variety shows. The music industry will be directly split into Qingyao Music, which will only be responsible for music production and distribution.
Qingyao Entertainment is the agency responsible for the talent development of Qingyao Group's artists. Qingyao Digital is a special effects company, and Qingyao Literature is a literary company, including its fiction website.
Qingyao Games is a game production company, Qingyao Video is a self-media platform, Qingyao Toys is responsible for toy production and design, and Qingyao Commerce is responsible for the offline flagship store of the Qingyao brand. Storybook Town is also an independent subsidiary, and more subsidiaries may be established in the future.
After the split, the subsidiary has a more single and refined business.
For example, if Qingyao Media wants to make a movie in the future and needs actors, it can ask Qingyao Entertainment to provide them. If it needs music, it can tell Qingyao Music. If it needs special effects, it can contact Qingyao Digital. If it needs to purchase the copyright of a novel, it can find Qingyao Literature, and so on.
In a word, brothers should settle accounts clearly, and professionals should do professional things. This also facilitates further cooperation between each subsidiary and other external companies.
Of course, the price tags for these subsidiaries to cooperate with external companies and with subsidiaries under the group are different.
The task of the head office is simple. Its main responsibilities in the future will be to supervise each company, coordinate each subsidiary, and be responsible for the finances of each subsidiary.
After the group was upgraded, Qingyao Group implemented a very important rule: all subsidiaries' financial personnel were assigned by the head office, and their salaries were also paid through the head office. However, the salaries were paid by the subsidiaries, with the head office directly deducting them.
This is also the foundation for ensuring the healthy development of Qingyao Group in the future and one of the most important means for the head office to manage its subsidiaries.
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